America's economy grew by more than 400% between 1860 and 1900 Technological advances, expanding population, improved transportation, financial innovation, and new business practices combined to fuel this economic growth "Titans of Industry".
This passage we can say is a direct response the critique of indulgences raised by the Protestant reform.
In other words this could be a direct answer to Martin Luther and his 95 thesis, in which the selling of the indulgences, that is the forgiveness of sins in exchange of money, was the main issue. The Church states that the Christ himself gave the right to them to sell the indulgences and that that is the time-honored tradition.
